[VIDEO] The Importance of Affiliate Marketing
by Christopher Day, on February 4, 2018
Do you think only discount brands use affiliate marketing? Think again. DemandJump CEO, Christopher Day, shares his thoughts on affiliate marketing and how brands like Samsung, Ralph Lauren, and more use affiliate marketing to reach their customers.
Christopher: Hello! Christopher Day, CEO of DemandJump, coming to you from HQ1 in Indianapolis. Today we want to talk a minute about affiliates. The reason why is I can't tell you the number of times over the last year, we've heard 'we don't want to do affiliate marketing because we don't want to be associated as a discount brand'.
Well here's my question: Talbots, Sacks 5th Avenue, Neiman Marcus, Samsung, Ralph Lauren, do these sound like discount brands? I think not my friends.
Number one philosophy: we have to get over this thought process that affiliate means discount, it absolutely does not. Number two philosophy: 96% of Americans shuffle in line, per a recent CPC article. 65% of shoppers online, per TechCrunch article, are looking for a discount. They're looking at cost more than the consumer experience. This doesn't mean you have to put all your products out there at a discount, but it means you should be strategic in selecting which products you do put out in the affiliate marketing network.
Now that we've agreed on the philosophy that every company's selling a widget or a product, you should absolutely have affiliate marketing as a part of your go-to-market strategy.
Now how do we best go about it? There are two key components that every company should be deploying:
- You have to know quantifiably the most powerful affiliates ranked in order that you should be going after with the specific product that you're selling.
- You have to treat affiliate marketing as a deal-making exercise. We see countless companies putting out their ads on the affiliate network hoping that the right people will just magically pick it up. It won't happen.
Two quick steps most powerful affiliates ranked in order, and it matters if you're selling women's dresses versus women's shoes, the affiliate that you should be going after are very different for a seemingly similar category. And number two is you have to treat it as a deal making exercise which means your marketers should be picking up the phone a few times a week and making great deals with those those critical affiliate partners.
That's it on affiliates. Thank you!